EU money used by Romania last year accounts for 1.32 pct of GDP

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EU money used by Romania last year accounts for 1.32 pct of GDP

Romania last year used European Union funds worth 1.602 billion euros, accounting for 1.32% of its gross domestic product (GDP) and contributed 930.9 million euros to the EU budget or 0.76% of its 2007 GDP, shows a financial report of the European bloc.

The EU paid compensation worth a total 444.6 million euros last year, financiarul.ro reported.

Out of the total 114 billion euros worth of expenditure in the EU, as much as 44 billion euros or 38.4% was assigned to sustainable development, with Romania receiving 451 million euros for this area, shows the report unveiled by European Commissioner for Financial Programming and Budget Dalia Grybauskaite.

The EU earmarked 54.648 billion euros to farming and rural development, with Romania benefiting from funds worth 23.9 million euros for its farming sector alone.

The European bloc’s budget for citizenship, freedom, security and justice totalled 1.049 billion euros, out of which Romania was assigned 4.3 million euros.

Bucharest also received 18.8 million euros for its administration sector, out of a total EU budget of 6.805 billion euros.

The EU budget last year climbed 8 billion euros or 6.9%, but stayed at 0.93% of the Gross Domestic Revenue (which means the GDP plus revenues resulted from the relation of a state with other states, interests or dividends, minus the paid debts), that is the same figure as in 2006, with the nominal rise being due to the accession of Romania and Bulgaria, the report says.

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